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Tier one lenders NCBA, Absa, IM and StanChart grow third-quarter profits to show resilience

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I&M bank building along Kenyatta avenue, Nairobi. [Elvis Ogina, Standard]

Tier one lenders NCBA Group, Absa Bank Kenya, I&M and StanChart grew their third-quarter profits even as concerns mounted on the outlook of the economy in the remainder of the year.

NCBA Group posted a profit after tax of Sh14.6 billion in the nine months ending September 30 2023 representing a 14.4 per cent increase riding on higher interest and non-interest income.

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